Inbound Marketing For Business BrokersWhat every business broker needs to know to win potential sellers in a digitally powered world
Adam RayFounder & CEO
(857)[email protected]
How to leverage the internet to build brand awareness & trust with business owners over time ?
Marketing to business owners has changed completely….
40%
60%
25% 17% 17% 15%
Buying decisions are largely made online BEFORE connecting in person...
75% 83% 83% 85%
2013
20142015 2016 2017
Before speaking with a professional in person
In-Office
12%
88%
2018
Source: Google ZMOT Study, 2016
Traditional buying decision model
Stimulus FirstMoment of Truth
SecondMoment of Truth
“I love / hate this!”“Sign Me Up.”“I’m interested.”
Stimulus FirstMoment of Truth
SecondMoment of Truth
“I love / hate this!”“Sign Me Up”“I’m interested.”
Customer behavior has changed
Stimulus ZeroMoment of Truth
FirstMoment of Truth
SecondMoment of Truth
“I want this.” “I love / hate this!”“Sign Me Up.”
Contributes to next person’s ZMOT
“I’m interested.”
The ‘zero-moment-of-truth’The moment someone decides they want something.
Online
In-Person
12%
88%
2018
Do you stand out where people are making first decisions?
Customer Journey
Generate Interest
Awareness
I’d like to know about selling my business... That looks appealing.I want to know more. I need this!
Interest & AwarenessSocial / Search Advertising
Email / Text Marketing Referral programs
YouTube / Video AdsTelevisionBillboard
Online display advertisingNewspaper / Magazine
RadioWord of mouth
Customer Journey
Awareness
Be Found & Stand Out
Findability
“Sell my business boston”“Business brokers in austin”“Business broker near me”“top business brokers”
Search
Organic SearchPPC
MapsDirectories
Apps“Near me”
Customer Journey
Awareness Findability Reputation
Be Chosen
Research
Blogs & ArticlesReviews
Social MediaFriends and family
Other Business Owners
ZMOT
This broker is popular! They have a lot of reviews, from mostly satisfied business owners like me….
Customer Journey
Awareness Findability Reputation Conversion
Signed Contract
EngagementWebsite
AppOnline booking
Phone Call
It’s really easy to book a consultation
Customer Journey
Awareness Findability Reputation Conversion Advocacy
Be Talked About
ExperiencePost-engagement
expectations vs. reality
Social PostWrite a Review
Discuss with friendsBlog
Quick, knowledgeable advice. You should really check them out.
Customer Journey
Channels impacting your Customer’s Journey
Awareness Findability Reputation Conversion Advocacy
StimulusSocial / search advertising
Email / text marketing Referral programs
YouTube / Video adsDropnotes
BillboardOnline display advertising
Newspaper / Magazine / Radio
Research
Blogs & ArticlesReviews
Social MediaWord of mouth
Engagement or Purchase
Website
Online ProfilesOnline booking
On-site commitmentSalesperson
Phone Call
ExperiencePost-purchase expectations
vs. realitySocial Post
Write a ReviewBlog
Word of mouth
Search
Organic SearchPPC
MapsDirectories
Apps“Near me”
GPS
Contributes to next business owner’s
decision to sell
It’s important to set up your inbound marketing strategy sequentially...
Wasting $$ Marketing Budget 101
Awareness Findability Reputation
Awareness Findability Reputation Conversion AdvocacyBroker
B
Stimulus Research Purchase ExperienceSearch
Broker
A Conversion Advocacy
Business owner sees Broker A’s ads, but then finds some bad reviews.... Broker B has multiple reviews with 4.5 stars
Advocacy
Awareness Findability Reputation
Awareness Findability Reputation ConversionBroker
B
Stimulus Research Purchase ExperienceSearch
Broker
A
Wasting $$ Marketing Budget 101
Now motivated to sell, the business owner chooses Broker B despite first seeing Broker A’s ad.
Don’t let your competition piggyback on your own ad spend & marketing efforts.
Where is the smartest place for a business broker to start?
Start with the free stuff and work your way up...
3 Key Focus Areas & Stages
Awareness Findability Reputation Conversion Advocacy
Contributes to next person’s decision
2
1. Optimize your online brand for conversion2. Become findable & influential3. Target, automate, nurture & capture
12
3
Step One
22
Optimize your online brand for conversion.
Step One
23
Optimize your online brand for conversion.
Fix Your Online ProfilesFor the most part, this is 100% free and very high value..
Conversion - Google My BusinessOptimize for free to get found by local sellers
Why is this important?● Think of this as the internet’s most important free phone book
○ It’s critical you’re listed correctly, and placed to get found● 60% of Americans use smartphones and tablets to search for local services● 80% of searches happen on Google● This is a GREAT way to maximize your visibility for local search● You NEED to be on the first page for search results in your area
○ “Sell a business”○ “Business valuation”
Google My Business TipsFree tactics to help get you into the Google “Snack Pack”
1. Get your business info right and add a description
2. 3 posted reviews minimum, preferably within the last 6 months
3. RESPOND to those reviews (all of them)
4. Post daily5. Add photos
Conversion - LinkedInOptimize your online profile the way you optimize your realworld profile
Why does this matter?● Community of over 575 million professionals around the world● Establish yourself as a qualified authority● Leads & referrals● Context & relevance● Business owner relationship building● Attract talent
LinkedIn Profile TipsOne of the most powerful, free tools available….
● Keep your headline simple, clear & speak to the “croc brain”○ Example: “I sell valuable businesses.”
● Use keywords in your summary○ Passionate elevator pitch○ CTA
● Get recommendations & endorsements○ Social proof○ Get your happy clients to post reviews
● “Linked” company icons● Add your profile link to your email signature
Conversion - Other OptimizationsAlso important, but not highlighted for main presentation
● Twitter● Facebook company page● Industry focused directories & platforms
○ IBBA○ BizNexus○ BizBuySell○ Businessbroker.net○ Company profile page
Conversion - WebsiteForget SEO for now. Just have one so you don’t lose trust.
Must haves:● Clean, simple design● Simple engaging headline text & imagery● No grammatical errors● Contact form● Social media links● About page● FAQ page● Testimonials● CTA
Step TwoPosition Yourself to Get Found Online
Step TwoPosition Yourself to Get Found Online
Reputation - Social MediaWhat, why & how.
● Use a tool that allows you to easily schedule & post relevant content across LinkedIn, Twitter, Facebook & Google My Business
● Aim for consistent, relevant value (don’t try to close a sale in a social post)
Track Maven
Reputation - BloggingYou’re a business broker. Outsource this.
● DO NOT use a copywriter unfamiliar with M&A● Use a copywriter whose primary language is English● Read, edit & approve anything before it goes live (especially early on)● Preferably use a copywriter who is already working for a business broker● Make sure you own all content● Expect to pay $25/$300 per post depending on length and originality of content
Reputation & Advocacy - ReviewsTips for leveraging the power of online reviews to help you get found
● 91 percent of 18 - 34 year old consumers trust online reviews as much as a recommendation from a friend or family member
● 61 percent of consumers over 55 years old want businesses to have 4 or more stars
Reputation & Advocacy - ReviewsTips - How to respond to positive reviews
● Write a personalized response to all reviews● Thank the customer● Make sure you mention your brokerage name so that the review shows up in
your search engine results● Market yourself, market how good your service was. Ham it up.● Invite the customer to do something (spread the word, call for advice, etc.)
Reputation & Advocacy - ReviewsTips - How to respond to negative reviews
● Acknowledge, apologize & sympathize● Throw in some marketing. Spin it if you can.● Keep it short & sweet (three sentences)● Don’t mention your brokerage name if you don’t want the negative review to
show up in business name search results● Include offline contact info with a prompt to contact you directly
○ Take the conversation offline asap
Step ThreeGet proactive & target.
Step ThreeGet proactive & target.
Awareness - Email MarketingIt still works. A must-have arrow in your outreach quiver.
● Higher ROI ($38 ROI for every $1 spent)● Reach (+/- 5 billion email accounts globally)● It’s still the preferred communication channel● GREAT new tools becoming available for non-tech users● It’ll be here forever
Basically, -this is something every broker has to do consistently and it’s not going away….
Awareness - LinkedIn Sales NavThe best B2B targeting out there...
● Target your prospects based on:○ Job title○ Industry○ Location○ Company size○ Seniority○ Keyword
● The platform is rapidly changing into a content focused ecosystem
Awareness - Facebook AdsWhether you like the platform or not, the targeting is superior.
● Everybody spends a lot of time on Facebook, including business owners● FB provides the most targeted advertising available ● It’s the cheapest paid advertising out there● Great way to increase brand awareness and retarget● Highly measurable, and can become very, very cheap and effective once
you get it right
Display AdsRun display ads on sites related to your business, and target only the prospects you want, even within a specific area.
Google SearchAdWords Search Network. Display at the top of search results with keywords related to selling a business.
Facebook Ads
People turn to Facebook for a variety of specific interests. This gives this platform the ability to reach a targeted & retargeted audience.
YouTubeVideo ads for your business on YouTube. Video will be increasingly important.
Sales NavigatorHighly targeted. Time consuming but effective. Some features more effective than others.
Email MarketingHighly effective even in 2019. Who do you know who hasn’t opened a cold email?
Awareness - Outreach Go-To’s